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Benzinga

Business

Anusuya Lahiri

Spotify's Subscriber Boom Can't Hide Ad Woes: Analyst

Spotify SPOT Jessica Reif Ehrlich Barton Crockett Justin Patterson Mark Zgutowicz Spotify Technology Bank of America Securities

July,16,,2021,,Brazil.,In,This,Photo,Illustration,The,Spotify

Wall Street analysts rerated Spotify Technology (NYSE:SPOT) after the company’s quarterly results. The stock gained on Wednesday.

Spotify posted a loss of 48 cents per share for the second quarter, a considerable deviation from the analyst consensus estimate of a $2.11 profit.

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